MARINE PETROLEUM TRUST ANNOUNCES THIRD QUARTER CASH DISTRIBUTION
Marine Petroleum Trust (NASDAQ: MARPS) has announced a quarterly cash distribution of $0.094886 per unit for Q3 2024, payable on September 30, 2024, to unitholders of record on August 30, 2024.
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Rhea-AI Summary
Marine Petroleum Trust (NASDAQ: MARPS) has announced a quarterly cash distribution of $0.094886 per unit for Q3 2024, payable on September 30, 2024, to unitholders of record on August 30, 2024. This distribution is higher than the previous quarter's $0.055961 due to increased volumes and prices for both oil and natural gas. However, it's lower than the $0.121831 per unit distributed in Q3 2023. Compared to Q3 2023, oil production volume decreased while natural gas production increased, and prices for both commodities have risen. Marine's distributions are determined by royalties received up to the declaration date, typically received two months after oil production and three months after natural gas production.
Positive
- Quarterly cash distribution increased to $0.094886 per unit from $0.055961 in the previous quarter
- Volumes and prices for both oil and natural gas have increased compared to the previous quarter
- Natural gas production volume increased compared to Q3 2023
- Prices for both oil and natural gas have risen compared to Q3 2023
Negative
- Current distribution of $0.094886 per unit is lower than $0.121831 per unit distributed in Q3 2023
- Oil production volume decreased compared to Q3 2023
Details
News Market Reaction – MARPS
The recorded move for MARPS in the trading session of this news was +1.38%.
Data tracked by StockTitan Argus. Session date unavailable.
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This distribution of
Marine's distributions to unitholders are determined by royalties received up to the date the distribution amount is declared. In general, Marine receives royalties two months after oil production and three months after natural gas production.
Contact: | Jana Egeler |
VP, Royalty Trust Services | |
Argent Trust Company, Trustee | |
Toll Free – 1.855.588-7839 |
View original content:https://www.prnewswire.com/news-releases/marine-petroleum-trust-announces-third-quarter-cash-distribution-302225407.html
SOURCE Marine Petroleum Trust
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